4 ms·
Absolutely. The present band of Market Monetarists heretics think an "official" NDGP futures market would be a move in this direction. But one side effect of t
by ArkyBeagle 11y ago
Absolutely. The present band of Market Monetarists heretics think an "official" NDGP futures market would be a move in this direction.
But one side effect of this is that inflation* as a regulatory concept becomes much more deprecated. That's a big change. It is not clear to me that there is any inflation at all, but I tend to avoid trendy goods and I don't live ( by design ) in high-rent areas.
*even though RGDP+inflation=NGDP.
My bias in this is that RGDP & inflation look like an unstable control input where NGDP does not ( I believe this is because of lag ) . "Should control theory be applied to the economy at all" is a very good question.